Boeing

Frontrunning: November 15

  • GOP Seeks to Derail Moore, Salvage Senate Seat (WSJ)
  • Army takes control in Zimbabwe (Reuters)
  • Senate Tax Plan Guts Obamacare, Sunsets Many Middle-Class Cuts (BBG)
  • Senate Republicans tie tax plan to repeal of key Obamacare mandate (Reuters)
  • Trump’s Campaign Foreign Policy Team Under Mueller’s Microscope (BBG)

Global Stocks Tumble, Asia Plunges On Chinese Commodity Carnage

The euphoria of the past month has ended with a thud and BTFDers are strangely missing as the commodity chill out of China (which overnight became full blown carnage), has unleashed a global risk-off phase ahead of today's critical CPI data, resulting in broad and sharp selling across global markets, as European stocks followed declines in Asia while bonds and gold advanced.

Frontrunning: November 13

  • Trump, Duterte Strike Up a Friendship, Sidestep Thorny Issues (WSJ)
  • Strong earthquake hits Iraq and Iran, at least 332 killed (Reuters)
  • GE’s New CEO to Focus on Power, Aviation, Health (BBG)
  • GE Slashes Dividend Amid Restructuring (WSJ)
  • Uber board strikes agreement to pave way for SoftBank investment (Reuters)
  • World's Top Tech Giants Amass $1.7 Trillion in Monster Year (BBG)

Bill Blain: "The UK Vs Europe, The Best Comedy Show Ever!"

You really can’t make this stuff up. Get out the blunted spoons as the EU demands UK pays to play or forget a December start to real talks. The UK government in disarray. Global investors shaking their heads asking WTF and getting a bit bored and disinterested by it. It could be a top class comedy.

Frontrunning: October 27

  • U.S. Economy Expected to Show Momentum, Despite Storms (WSJ)
  • As Trump tax comes to floor, failure could spell stocks selloff (Reuters)
  • Washington’s Biggest Mystery: What’s in the Republican Tax Plan? (BBG)
  • Spain set to impose direct rule in Catalonia as crisis spirals (Reuters)
  • Catalans Send Emissary to Madrid to Plead for a Deal (BBG)

Traders Paralyzed, Markets Flat Ahead Of Today's Main Event: The ECB's Taper Announcement

US equity futures and Asian shares are flat this morning with European shares treading water ahead of the ECB's policy meeting in which it’s expected to announce a tapering to its €60bn in monthly QE. On this busiest day of Q3 earnings season, companies set to report earnings include Alphabet, Microsoft, Amazon and Intel, while we also get data on jobless claims and wholesale inventories.

Frontrunning: October 25

  • Rift Widens Within GOP in Battle for Control of Party (WSJ)
  • Trump Courted a GOP Rebellion. Now He’s Got One (BBG)
  • Xi Jinping Is Alone at the Top and Collective Leadership ‘Is Dead’ (WSJ)
  • Dollar hits 3-1/2-month high vs. yen, boosted by Fed chair talk (Reuters)
  • Congress Votes to Overturn CFPB Arbitration Rule (WSJ)

Bond Yields Break Out Around The World As Japan's Record Stock Rally Ends

S&P futures are fractionally in the red while traders await President Trump’s pick for Fed chair and more clues on the fate of tax reform; Asian stocks slide, European shares are little changed ahead of tomorrow's ECB tapering announcement as US 10Y yields finally break out of their multi-month range below 2.40%.

Frontrunning: October 24

  • Corker Tells Trump to Stay Out of the Tax Debate (BBG)
  • Food fight? After spats on Twitter, Trump’s having lunch with Senate Republicans (McClatchy)
  • As ‘New Era’ Dawns, Xi’s Party Stays Out of the Sun (WSJ)
  • China enshrines 'Xi Jinping Thought', key Xi ally to step down (Reuters)
  • U.S. Set to Resume Admitting Refugees but With New Rules (WSJ)

Key Events In The Coming Week: ECB Taper, Q3 GDP And Durables

The main even this week will be the ECB's taper announcement on Thursday where consensus expects the ECB to announce a QE extension of €30bn per month for 9 month until Sep-18, with potential extension after. Net purchases between now and Dec-17 will continue at €60bn per month as planned. To cope with rate hike expectations, the ECB is also expected to strengthen forward guidance.

World Stocks At All Time Highs After Nikkei's Record Winning Streak; Euro Slides With Spain On Edge

In an otherwise quiet session, Sunday's convincing election victory for Japanese Prime Minister Shinzo Abe’s ruling coalition, which gave it another constitution-changing supermajority, pushed the Nikkei to the highest level since 1996, after a record 15 consecutive days of gains - the longest winning streak on record - and sent world stocks to new all-time highs on Monday.